Saudi Central Bank Boosts Stock Position in Booking Holdings Inc. $BKNG

Saudi Central Bank grew its holdings in shares of Booking Holdings Inc. (NASDAQ:BKNG) by 4,507.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 54,823 shares of the business services provider’s stock after purchasing an additional 53,633 shares during the quarter. Saudi Central Bank’s holdings in Booking were worth $9,772,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in BKNG. Benjamin Edwards Inc. raised its position in Booking by 1.7% in the second quarter. Benjamin Edwards Inc. now owns 121 shares of the business services provider’s stock worth $700,000 after acquiring an additional 2 shares during the period. Diversify Wealth Management LLC increased its stake in shares of Booking by 7.1% during the 4th quarter. Diversify Wealth Management LLC now owns 45 shares of the business services provider’s stock worth $239,000 after purchasing an additional 3 shares during the last quarter. Radnor Capital Management LLC increased its stake in shares of Booking by 0.6% during the 4th quarter. Radnor Capital Management LLC now owns 534 shares of the business services provider’s stock worth $2,860,000 after purchasing an additional 3 shares during the last quarter. MJP Associates Inc. ADV raised its holdings in shares of Booking by 6.1% in the 4th quarter. MJP Associates Inc. ADV now owns 52 shares of the business services provider’s stock worth $278,000 after purchasing an additional 3 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC lifted its stake in Booking by 1.9% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 158 shares of the business services provider’s stock valued at $846,000 after purchasing an additional 3 shares during the last quarter. 92.42% of the stock is owned by hedge funds and other institutional investors.

Booking Stock Performance

Shares of NASDAQ BKNG opened at $193.29 on Friday. The stock has a market cap of $145.23 billion, a PE ratio of 21.39, a price-to-earnings-growth ratio of 1.20 and a beta of 1.07. Booking Holdings Inc. has a fifty-two week low of $150.14 and a fifty-two week high of $226.10. The stock has a fifty day moving average of $194.31 and a 200-day moving average of $178.51.

Booking (NASDAQ:BKNG) last issued its quarterly earnings data on Monday, August 3rd. The business services provider reported $2.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.43 by $0.11. Booking had a negative return on equity of 102.96% and a net margin of 25.53%.The business had revenue of $7.35 billion for the quarter, compared to analysts’ expectations of $7.19 billion. During the same quarter in the prior year, the firm posted $55.40 EPS. The firm’s quarterly revenue was up 8.1% on a year-over-year basis. On average, sell-side analysts predict that Booking Holdings Inc. will post 10.48 EPS for the current year.

Booking Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 11th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, September 11th. Booking’s dividend payout ratio is presently 18.58%.

Insider Transactions at Booking

In related news, VP Peter J. Millones sold 50,050 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $207.59, for a total transaction of $10,389,879.50. Following the sale, the vice president owned 375,025 shares of the company’s stock, valued at approximately $77,851,439.75. This represents a 11.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert J. Mylod, Jr. sold 1,000 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $200.00, for a total transaction of $200,000.00. Following the completion of the sale, the director owned 14,000 shares in the company, valued at $2,800,000. This represents a 6.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 81,550 shares of company stock valued at $16,922,744. Company insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on BKNG. Bank of America reissued a “buy” rating and issued a $234.00 target price on shares of Booking in a research report on Wednesday, August 5th. Jefferies Financial Group increased their price target on Booking from $180.00 to $190.00 and gave the stock a “hold” rating in a research note on Tuesday, July 14th. Benchmark lifted their price objective on Booking from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Argus boosted their price objective on Booking from $210.00 to $245.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Finally, Wells Fargo & Company set a $220.00 price objective on shares of Booking and gave the company an “equal weight” rating in a report on Wednesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $236.70.

About Booking

Booking Holdings Inc is a global online travel company that operates a portfolio of consumer brands and technology platforms that facilitate the search for and booking of travel services. The company’s businesses focus on accommodations, transportation and related travel services through consumer-facing websites and apps as well as partner distribution channels. Booking Holdings was originally founded as Priceline in the late 1990s and adopted the Booking Holdings name in 2018; it is headquartered in Norwalk, Connecticut.

Its core offerings include online reservations for hotels, vacation rentals and other lodging; flight and car rental search and booking; and ancillary services that support travel planning and on-property experiences.